The Lusaka Securities Exchange (LuSE) has finally launched the long awaited mobile trading platform dubbed MyLuSE Application, which will allow market players to buy or sell their securities online.
The Online Platform allows the public to trade shares, bonds and other financial instruments on the LuSE. This platform is now available on your phone via USSD and mobile application, your computer or your tablet.
Ministry of Finance permanent secretary for budget and economic affairs Mulenga Pamu said it is Government’s aim to ensure that Zambians participate actively in utilising the financial instruments that are made available in the market.
Speaking during the launch of the LuSE online application, which the Zambian Business Times-ZBT attended, Dr Pamu said Government is aware of the lower participation levels in the Capital Markets, especially on the stock market.
“The Online Platform will simplify the often misconceived idea that the stock market is complex, risky or only for a select group of wealthy people. The simplicity of the online platform is its accessibility; anyone with a phone and mobile money account can access the platform,” he said.
Dr Pamu said market players can purchase securities on the LuSE such as shares or bonds adding that the trading of shares on the LuSE is relatively easier to understand in comparison to bonds.
He said in addition to being able to buy and sell securities on the LuSE, the platform will further develop into an educative platform that will assist all users in understanding and demystifying myths about the stock market.
Dr Pamu said to further enhance participation on the market, the government is committed to ensuring financial education is a top priority, ensuring financial literacy is inculcated into the minds of the youth.
“As government we are supportive of this initiative and hope that the introduction of this platform will stimulate more activity on the stock market. I also wish to encourage all players in the market to make a deliberate and concerted effort to support this initiative,” he said.
LuSE Board chairperson Raphael Kasonde said the LuSE’s development and launch of the MyLuSE mobile application is in keeping with the objectives of its strategic plan and represents a significant step taken towards meeting the LuSE’s commitment to keeping abreast of important trends in the capital market industry.
“A principal goal of this effort is to keep in mind the interests of market players and ensure that both resident investors and those based abroad are offered an improved and user-friendly mode of accessing the financial products being provided on the LuSE.
“Further, the LuSE, with MyLuSE application, aims to enhance the levels of financial literacy, amongst the general public, by reaching out to a wider number of potential and current investors, home and abroad through the use of their mobile phones,” Kasonde said.
He observed that over its 27-year existence, activity on the LuSE has been predominantly driven by institutional investors who have, amongst other things, benefited from the LuSE being a secondary market for the trading of government and corporate bonds.
“I am confident in saying that the MyLuSE Mobile application, with its ease of use and convenience, will facilitate the growth of retail investor activity on the market.
“The LuSE Mobile Trading Application is a digital platform that allows users to have direct access to the LuSE market,” Kasonde said.
He said the platform enables the LuSE to target a greater number of local retail investors in urban as well as the more remote parts of the country.
Kasonde said not limited to local investors, the platform allows foreign investors to conveniently invest in companies that are listed on the LuSE from any part of the world.
“The LuSE anticipates that as the use of the platform by investors of every kind grows, appetite for new financial instruments to invest in will also grow,” he said.
